Comedian Stephen Colbert will be looking for a new job after his run on The Late Show ends in May 2026. CBS announced on Thursday evening that the long-running late night program founded by David Letterman will be retired for alleged cost-cutting measures.

CBS said in a statement that it was “purely a financial decision.” The show launched with Colbert as host, executive producer and writer a decade ago.

Stephen Colbert and Jon Stewart slammed Paramount for making a deal with Trump, serving notice they won't be silenced by their parent company.

Colbert followed “The Daily Show” host Jon Stewart’s attack of the deal one week earlier. Stewart works for Comedy Central, also owned by Paramount, making the two comics the most visible internal critics of the $16 million settlement that was announced on July 1.

Stephen Colbert went off on his employer, Paramount, on Monday after the company decided to settle with President Trump in his lawsuit against the network.